Jamie Dimon Supports Trump's Tariffs: 'If It's A Little Inflationary, But It's Good For National Security, So Be It' (UPDATED)

Editor's Note: The headline has been revised to correct a typographical mistake.

JP Morgan Chase JPM CEO, Jamie Dimon, expressed his approval of President Donald Trump’s proposed tariffs on several countries, including Canada, Mexico, and China on Wednesday.

What Happened: During a discussion at the World Economic Forum, Dimon argued that the national security benefits of these tariffs would surpass any potential inflationary impact. He was quoted saying, “If it’s a little inflationary, but it’s good for national security, so be it. I mean, get over it,” reported CNBC.

Dimon also referred to tariffs as an “economic tool,” and dismissed the idea that they are inherently inflationary. His comments come amidst claims from some economists that tariffs would increase prices for American consumers and harm the country’s economy.

"Tariffs can change the dollar, but the most important thing is growth," Dimon said in the interview.

Dimon wasn't the only Wall Street leader expressing optimism about tariffs. Goldman Sachs CEO David Solomon, speaking at Davos, said that business leaders have been adapting to potential policy changes, including trade.

He described the shifts as a “rebalancing” of trade agreements that, if managed carefully, could benefit U.S. growth. Solomon emphasized the importance of a thoughtful approach, noting that some measures are likely part of broader negotiation strategies. “Used appropriately, it can be constructive,” he said, adding that the situation will evolve over time and requires close monitoring.

Why It Matters: Trump had previously announced his consideration of a 10% tariff on goods from China, which could take effect as early as Feb.1.

This was followed by his pledge to impose 25% tariffs on imports from Canada and Mexico starting Feb. 1, causing the Mexican peso and Canadian dollar to weaken.

These proposed tariffs have sparked debates among economists, trade experts, and consumers, as they could lead to higher costs for American households. Economic analyst Catherine Rampell warned that the tariffs could raise prices on a wide range of consumer goods.

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal